Understanding Key Drivers and Growth Opportunities in the Healthcare Technology Management Market: Trends and Market Size Insights
2059 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theHealthcare Technology Management Market?
The growing necessity for data protection is anticipated to boost the future advancement of the healthcare technology management market. Data security involves safeguarding data from unsanctioned entry and data degradation. The demand for this protection is escalating due to the increased actions of hackers who illicitly procure patient data for fraudulent activities. Healthcare technology management assists in defending the data from cyberattacks, utilizing production and operations management techniques. These techniques help to detect and promptly report phishing emails to the user. For example, in July 2024, the International Business Machines Corporation, a US-based tech firm, reported that the worldwide average cost of a data violation in 2024 escalated to USD 4.88 million. This presented a 10% surge from the previous year and is the highest total ever noted. Hence, the need for data security is fueling the expansion of the healthcare technology market.
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#How Does the ProjectedHealthcare Technology Management Market Growth Compare Over the Forecast Period?
The size of the healthcare technology management market has significantly expanded in the recent past. It is expected to escalate from a market size of $21.39 billion in 2024 to a notable $24.49 billion in 2025, representing a compound annual growth rate (CAGR) of 14.5%. This surge in the past years can be credited to advancements in medical device incorporation, adherence to regulations, equipment upkeep, cost management, and asset monitoring.
The market for managing technology in healthcare is projected to experience swift expansion in the upcoming years, reaching a worth of $44.81 billion in 2029 with a compound annual growth rate (CAGR) of 16.3%. The expected growth during these forecast years can be credited to an increase in telehealth reach, augmented value-based care, robust cybersecurity and data safety measures, enhanced sustainability, and management in the telehealth domain. Key market trends during this period are estimated to be telehealth technology administration, IoT device oversight, incorporation of AI and machine learning, solutions based on cloud technology, and management of mobile devices.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theHealthcare Technology Management Market?
The emergence of technological advancements is a notable trend being adopted in the healthcare technology management market. Key players in the market are concentrating on the creation of innovative technologies as a means to retain their market standing. For example, TRIMEDX, a company from the US offering clinical engineering, medical device cyber security, and clinical asset management solutions, unveiled the RUDR Score in March 2022. This AI-driven technology aids in unbiased decision-making related to clinical asset replacement. It also includes advanced client data benchmarking. Its high-tech, cloud-based technology simplifies the process of storing data in a single location and making it readily available. The system further offers advantages such as fostering cyber security, promoting patient safety, and ensuring the smooth operation of medical equipment.
Who Are the Key Market Players Influencing the Growth of the Corn and Healthcare Technology Management Industry?
Major companies operating in the healthcare technology management market include ABM Industries Inc., Agility Inc., Allscripts Healthcare Solutions Inc., Athenahealth Inc., Eli Lilly and Company, InterMed Group, Januarynx Medical Systems Inc., Koninklijke Philips NV, Renovo Solutions Ltd., Siemens Healthcare GmbH, TRIMEDX Holdings LLC, Welldoc Inc., Accumen Fund Inc., Advanced Ultrasound Electronics Ltd., Althea Group, Aramark Healthcare Technologies LLC, Asimily India Pvt. Ltd., Atlantic Biomedical Co., Clinical Technology Management, Comprehensive Technical Group, Conquest Imaging, DirectMed Parts Services LLC, First Healthcare Products Inc., GE Healthcare, Innovatus Imaging Corp., MasterPlan Healthcare, MedWrench LLC, Metis Medical Services, IQVIA Holdings LLC, Physicians Endoscopy, Radiological Service Training Institute, Tech Knowledge Associates LLC, Healthcare Technology Management Company
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Which Key Market Segments Comprise the Healthcare Technology Management Market and Drive Its Revenue Growth?
The healthcare technology management market covered in this report is segmented –
1) By Type Of Service: Maintenance and Repair, Capital Planning, Integrated Software Platform, Labor Management, Supply Chain (Procurement), Cyber Security, Quality and Regulatory Compliance
2) By Facility Type: Acute Care Facility, Post Acute Care Facility, Non Acute Care Facility
Subsegments:
1) By Acute Care Facility: Hospitals, Urgent Care Centers, Emergency Departments
2) By Post Acute Care Facility: Rehabilitation Centers, Long-Term Care Facilities, Skilled Nursing Facilities
3) By Non-Acute Care Facility: Outpatient Clinics, Home Health Care Services, Ambulatory Surgery Centers
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Which Regions Are Emerging as Leaders in the Healthcare Technology Management Market?
North America was the largest region in the healthcare technology management market in 2024. The regions covered in the healthcare technology management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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